This reasoning never made sense to me, given merchants have always been liable for card not present chargebacks. Processors, card networks, and even issuers don

This reasoning never made sense to me, given merchants have always been liable for card not present chargebacks. Processors, card networks, and even issuers don't lose a cent, because fees aren't refunded. Meanwhile, the merchant is out the charge and, nowadays, an additional fee. Even if the merchant wins and gets the charge, they still pay an additional fee. It feels like this is one of those things that card networks say because they know folks who hear it won't think about it more than a few seconds to realize how much sense it doesn't make.